Night Scalper EA MT5

The Night Scalper EA is a fully
automated Expert Advisor that trades at night and relies on price
reversion. The EA trades using market orders and
uses time averaging to improve performance. This
EA works best on EURUSD using the M5 timeframe, but will also work on
AUDUSD, GBPUSD, NZDUSD, USDCAD, USDCHF and likely many more. A VPS is
advisable when trading
this system and a low spread and commission based broker is best. Check
the comments for back test results and optimized
settings.

MoneyManagementRisk - Risk per trade if money management is on. Values from 0.01 to 0.1.

AllowNewTrades - Turn this of to disable new trades, true/false.

AccountProfitLock - If money management is on the EA will
stop trading if the account balance drops to this fraction of the
maximum account balance (0.5 = 50% of account balance). Values from 0.0
to 1.0.

PositionComment- Allows you to set the position comment.

Entry Settings

TimeFrame - Timeframe drop-down selection to lock EA to a
timeframe so that selection of the chart timeframe doesn't affect the
EA. When testing ensure the tester timeframe is set to the same value.

CloseTimeFrame - Timeframe to use when looking to close positions.

MaxSpread - Maximum spread in pips that the EA will trade. Values from 1.0 to 10.0.

TakeProfit - The take profit (Setting to 0 disables). Values from 0 to 100 depending on the pair being traded.

StopLoss - The fixed stop loss visible to the broker -
Values 25 to 200 depending on the pair being traded.